5 months ago
8
Naira depreciated slightly against the United States dollar at the authorised forex market on Monday, market data published by FMDQ showed.
According to the data, the naira closed Monday at N1,508.99/$1 as against N1,505.30/$1 posted in the previous segment on Friday last week.
The domestic currency experienced an intraday high of N1,441.00 and a low of N1,536.00 before it eventually closed at N1,508.99 /$1 on Monday.
The spot market segment recorded a foreign exchange turnover of $122.31 million, the FMDQ data showed.
However, the dollar recorded a marginal gain at the parallel market on Monday, after the currency slipped slightly in the previous session on Friday last week.
According to the unofficial market data posted, the dollar was exchanged at N1498.821 on Monday, but currency traders at the Abuja zone 4 axis told PREMIUM TIMES that the greenback eventually closed at N1,500/$1 as against N1,525 recorded on Friday last week.
In recent months, the naira value against the dollar at both the official and unofficial market has remained within the range of N1,400 and 1,500, amid government effort to stabilise the local unit.
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